West Virginia Senate balks on governor’s income tax cut plan

CHARLESTON, W.Va. (AP) — A ten% discount in West Virginia’s revenue tax proposed by Gov. Jim Justice stalled Friday within the Senate.

As a substitute of taking over the Republican governor’s proposal, the Senate defined its intentions to cut back the non-public property tax and enterprise stock tax if voters in November approve a constitutional modification that may permit lawmakers to take action.

The GOP-controlled Home simply handed the revenue tax reduce Thursday with out debate.

Senate President Craig Blair has mentioned an revenue tax discount alone wouldn’t help the state economic system or appeal to companies and new residents.

“I guarantee you by the point that we get to Nov. 8, with the assistance of the members on this physique and people exterior of the physique, the persons are going to grasp that that is our greatest path ahead,” Blair mentioned Friday.

The state ended the final fiscal 12 months with a report $1.3 billion surplus. The revenue tax discount was a part of Gov. Jim Justice’s particular session announcement final week. It was the third try to chop private state revenue taxes prior to now 12 months.